Hostess Brands has selected a
lead bid for its iconic Twinkies.
The Associated press reports
the investment firms Metropoulos & Co. and Apollo Global Management LLC are
teaming up for a $410 million bid for Hostess' Twinkies and other cakes.
The bid would create a floor
for an auction, allowing competitors to make offers.
Hostess closed operations in
November of last year, following a strike by the Bakers Union.
The move meant the closure of
33 bakeries, 565 distribution centers, and 570 bakery outlet stores, as well as the
loss of 18,500 jobs.
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